Shake Shack UK operator Diverse Dining saw sales decrease by 39% in 2020 from £33.7m to £20.6m.
The operating company posted a total loss for the year of £7.5m, up from £7m in 2019.
The company, which has the license to operate the Shake Shack brand in the UK, was previously owned by Asaad Food and Beverage, based in Lebanon.
It changed hands after 31 December 2020, with Wenchov Holdings Limited, based in Cyrpus acquiring the operator.
Wenchov is owned by Alshaya Holdings, based in Kuwait, a franchise operator with an estate spread across the Middle East, North Africa, Russia Turkey and Europe.
It operates brands such as PizzaExpress, Starbucks, PF Chang’s, as well as Shake Shack in Saudi Arabia.
Diverse Dinging’s directors are Andreas Loizou and Ioanna Vasilaki.
The report says the directors are satisfied with the company’s results, considering the economic environment in 2020, adding that the performance was “within the levels of expectations”.
During the period the business expanded with the opening of delivery only kitchens.
The company said it “continues looking for the right opportunities to expand to new markets and channels in new areas”.
It has several new sites being evaluated for future openings, and has the “continued support of its immediate parent undertaking”.
Diverse Dining said it was reliant in Wenchov Holdings to provide finance for its working capital and future expansion plans.
It said during 2021 the trading landscape has started to improve with the UK economy starting to return towards more levels.
